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Old 02-01-2010, 04:55 PM
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,622 posts, read 39,986,663 times
Reputation: 23772


Originally Posted by TuborgP View Post
Interesting, what are your thoughts on credit availability overall for seniors/ Factoring in pensions, ss,savings etc? ... I am wondering if my assumptions are still accurate.
No crystal ball here, just don't plan on getting loans for awhile

I see some significant potential if one could drum up private lenders. Seems some seniors might want to take a secured private note for 6-8% and get away from fueling the bank profits, at the expense of depositors

I always offer 'direct' deposit w/ 3 yr adjustments and 90 day notifications for renewal / termination of contract.
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Old 02-01-2010, 05:02 PM
Location: Sierra Vista, AZ
16,133 posts, read 20,831,348 times
Reputation: 8293
When I retired the sale of my old house represented 2/3 of my house and I financed the other 1/3 borrowing against my own money at 2%. I don't think TSP will let you do that but perhaps other savings. That way you own the house outright. It sounds to me that the people you are negotiating with mean you harm
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Old 02-01-2010, 05:55 PM
Location: Murrayville, Georgia
3,464 posts, read 1,653,126 times
Reputation: 5654
Originally Posted by MadManofBethesda View Post
We've gone from an era where underwriters would approve loans to anyone with a heartbeat, to one where people with guaranteed incomes for life and a seven-figure net worth can't qualify for a loan.

pretty sad isn't it...
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Old 02-02-2010, 12:38 AM
Location: Chiswick, London, UK
15 posts, read 19,049 times
Reputation: 27
great Suggestions
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